Mineral Resources
The Juby Project Mineral Resource Estimate (MRE) was completed for the Juby Main Zone (JMZ), Golden Lake Zone (GLZ), Hydro Creek-LaCarte Zone (HCLZ) and Big Dome Zone (BDZ) deposits. Completion of the current updated MREs for the deposits as at July 14, 2020 involved the assessment of a drill hole database, which included all data for surface drilling completed through the autumn of 2018, as well as updated 3D grade-controlled wireframe models, and available written reports.
Juby Project Mineral Resource Estimate, July 14, 2020
| Zone |
Category |
Tonnes (Mt) |
Grade (g/t) |
Contained Au (Koz) |
| JMZ-GLZ |
Indicated |
20.2 |
1.12 |
728 |
| HCLZ-BDZ |
Indicated |
1.1 |
1.31 |
45 |
| Total |
Indicated |
21.3 |
1.13 |
733 |
| Zone |
Category |
Tonnes (Mt) |
Grade (g/t) |
Contained Au (Koz) |
| JMZ-GLZ |
Inferred |
41.5 |
0.99 |
1,319 |
| HCLZ-BDZ |
Inferred |
5.6 |
0.93 |
169 |
| Total |
Inferred |
47.1 |
0.98 |
1,488 |
Notes:
- The classification of the current Mineral Resource Estimate into Inferred is consistent with current 2014 CIM Definition Standards - For Mineral Resources and Mineral Reserves
- Mineral resources which are not mineral reserves do not have demonstrated economic viability. An Inferred Mineral Resource has a lower level of confidence than that applying to a Measured and Indicated Mineral Resource and must not be converted to a Mineral Reserve. It is reasonably expected that the majority of Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration.
- All figures are rounded to reflect the relative accuracy of the estimate.
- Resources are presented undiluted and in situ and are considered to have reasonable prospects for economic extraction by open-pit mining methods.
- Open pit mineral resources are reported at a cut-off grade of 0.4 g/t Au within a conceptual pit shell. Cut-off grades are based on a gold price of US$1,450 per ounce, processing and G&A costs of US$16, a mining cost of US$2.20 and a gold recovery of 90%.
- The QPs of the Juby Technical Report are not aware of any known environmental, permitting, legal, title-related, taxation, socio-political or marketing issues, or any other relevant issue not reported in the technical report, that could materially affect the mineral resource estimate.